Both the -spd and the +spd variants have its advantages. I personally went for +spd -hp with spd refinement and I couldn't be more satisfied.
The higher speed turns into respectable player phase values even with just a +4 buff from hone speed and the fact, that she will almost never get doubled by axes and lances means that she might actually survive more in these weaker/neutral matchups. That part of the statement would need to be tested in kagerochart tho.
You could argue that -spd is better in high tier arena tho, where enemy +10 armor units have vengeful or bold fighter, but I think that for general purpose, the spd focus might actually be slightly better.
EDIT:
based on kagerochart, when nowi (standard build - steady breath, qr, panic ploy) is defending against +10 heroes.
+spd -hp has 146 wins · 5 losses · 77 draws; 192 favorable matchups, 13 unfavorable, 23 other
+atk -spd has 179 wins · 11 losses · 38 draws
201 favorable · 14 unfavorable · 13 other
that's not accounting for optimal enemy builds tho.
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